MIRA INFORM REPORT

 

 

Report Date :           

04.06.2011

 

IDENTIFICATION DETAILS

 

Name :

KARINA SHIPPING LTD

 

 

Registered Office :

The Financial Services Centre, PO Box 1823, Kingstown Park, St. Vincent and the Grenadines

 

 

Country :

Saint Vincent & Grenadines

 

 

Year of Establishment :

2000

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

International Business Company

 

 

Line of Business :

Offshore Company

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

100,000.00 USD.

Status :

Satisfactory

Payment Behaviour :

Usually Correct

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

 

 

 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

GEOPOLITICS

SAINT VINCENT AND THE GRENADINES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Commonwealth Realm - Parliamentary system


Economic Risk: Nil

Currency: St Vincent and the Grenadines (XCD)

100.00 XCD = 37.03 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Karina Shipping Ltd

Address in the order:

P O Box 1823 Pauls Avenue Kingstown

 

 

Legal Name:

Karina Shipping Ltd

 

 

Legal Address

The Financial Services Centre, PO Box 1823, Kingstown Park, St. Vincent and the Grenadines (Reg. Agent's add.)

 

 

Telephone:

(784) 457-0548 Registered Agent Number

Registration Number :

N.A.

Fax:

(784) 451-2672 Registered Agents Fax

Legal Form:

International Business Company

Email:

N.A.

Registered in:

Saint Vincent & Grenadines

Website:

N.A.

Date Created:

2000

Manager:

N.A.

Date Incorporated:

N.A.

Staff:

0

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Offshore Company

 

 

BANKS

 

Name of the Bank

HSBC

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

KARINA SHIPPING LIMITED is an International Business Company incorporated in Saint Vincent and the Grenadines for tax purposes.

 

However the company does not carry any operation in Saint Vincent and the Grenadines.

 

It is not registered with the Saint Vincent and the Grenadines Chamber of Commerce as being an active business.

 

It is not listed with the Saint Vincent and the Grenadines yellow pages.

 

It is not listed with the major local credit bureaus.

 

The company does not have any employee in Saint Vincent and the Grenadines. It uses the registered agent staff.

 

Trade References:

 

In virtue of the nature of its business activities its local transactions are seldom. Therefore, commercial sources consulted in the marketplace report that they are unable to establish subject's payment performance and general reputation regarding commitments contracted as same it is  UNKNOWN as making use of credit facilities.

PAYMENTS

 

made on a 30 days basis - monitored over the last 12 months

Comments on location:

 

The Address mentioned above is that of the registered agent:

 

Trend Bank Ltd.

The Financial Services Centre, PO Box 1823, Kingstown Park, St. Vincent and the Grenadines

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The company is owned by foreign shareholders.

Management:

 

It is locally managed by the registered agent mentioned above.



Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

However our financial sources could provide us with the following data.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

 

Currency

DATE

USD

2010

Turnover

0

Operating Income

1,100,000

Net Income

1,100,000

Net worth

7,500,000

Bank liabilities

0

The cash flow is

Good



Currency

DATE

USD

2008

Turnover

0

Operating Income

1,300,000

Net Income

1,300,000

Net worth

4,000,000

Bank liabilities

0

The cash flow is

Correct

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

 

Rating

 

Local credit bureau did not rate this company.

 

 Final Opinion

 

We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in St. Vincent and the Grenadines, it uses such territory only as its legal and administrative address, but all its operations are carried out abroad. It is managed by a resident registration agent and it is unknown in the marketplace, so its commercial morality and general reputation cannot be assessed, although nothing detrimental is noted upon subject.

 

A credit line may be considered for 100,000.00 USD.

 

 



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

GOOD

Public

NO

Indebtedness

NIL

Payments

REGULAR

Cash

GOOD

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.85

UK Pound

1

Rs.73.29

Euro

1

Rs.64.89

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.